Aston Martin owner said to approach suitors for sale
Discussion
-- Aston Martin’s controlling shareholder, Investment Dar Co., has approached potential buyers for the maker of luxury sports cars featured in James Bond movies, said five people with knowledge of the matter.
The Kuwaiti company, which owns 64 percent of Gaydon, U.K.- based Aston Martin, has hired Rothschild to advise on the sale, said one of the people, who asked not to be identified because the talks are private. Mahindra & Mahindra Ltd., the Indian automaker, is among potential suitors Investment Dar has approached in recent few months, two of the people said.
A sale has proven difficult because investors haven’t been willing to match the price the Kuwaiti owner paid five years ago, said two of the people. Investment Dar has sought about $800 million for its stake, one person said.
For Kuwait’s Investment Dar, part of the group that bought Aston Martin for 503 million pounds ($805 million) in 2007, the proceeds would help the company pay off debt.
So is the rumour in the market
The Kuwaiti company, which owns 64 percent of Gaydon, U.K.- based Aston Martin, has hired Rothschild to advise on the sale, said one of the people, who asked not to be identified because the talks are private. Mahindra & Mahindra Ltd., the Indian automaker, is among potential suitors Investment Dar has approached in recent few months, two of the people said.
A sale has proven difficult because investors haven’t been willing to match the price the Kuwaiti owner paid five years ago, said two of the people. Investment Dar has sought about $800 million for its stake, one person said.
For Kuwait’s Investment Dar, part of the group that bought Aston Martin for 503 million pounds ($805 million) in 2007, the proceeds would help the company pay off debt.
So is the rumour in the market
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